Yahoo Closing Down Its Offices Worldwide For A Week, To Save on Costs

Yahoo (NSDQ: YHOO) is closing down its offices worldwide for a week, its first ever. From Dec 25 to Jan 1st, all its offices will be closed, except for “essential services” including some customer service, as a way to cut its operating costs, reports WSJ. It did a somewhat similar move last year, but only for U.S. offices. The story offers examples of other big tech/media companies in the Valley: both Adobe (NSDQ: ADBE) and Apple (NSDQ: AAPL) have similar closures. In Yahoo’s case, for the week days of Dec 28, 29, 30, 31, U.S. employees will have to take them out of their vacation time if they want to get paid for it, or otherwise would be unpaid. For other countries, “time off will be paid consistent with local standards and laws,” Yahoo spokesperson said.